Oil Prices Little Changed After Day of Volatile Trading
- Interest rate hikes, China Covid Zero expected to hurt demand
- OPEC+ cut has tightened supplies, heightened US-Saudi tensions
Workers drill for oil on the land in Andrews, Texas.
Photographer: Jordan Vonderhaar/BloombergThis article is for subscribers only.
Oil prices were barely changed after struggling to find direction all day as traders contend with both a dimming demand outlook and tightening crude supplies.
West Texas Intermediate futures settled barely lower after a topsy-turvy session that sent prices below $85 and above $87, often mirroring the direction of equity markets.